Dorsey & Whitney Trust CO LLC Boosts Stock Position in Lam Research Co. (NASDAQ:LRCX)

Dorsey & Whitney Trust CO LLC raised its position in shares of Lam Research Co. (NASDAQ:LRCX) by 976.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,352 shares of the semiconductor company’s stock after purchasing an additional 11,204 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Lam Research were worth $892,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. grew its stake in Lam Research by 2,400.0% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock valued at $163,000 after purchasing an additional 192 shares during the last quarter. Insight Wealth Partners LLC purchased a new stake in Lam Research during the 3rd quarter valued at about $202,000. B&L Asset Management LLC purchased a new stake in shares of Lam Research in the third quarter worth about $204,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Lam Research in the third quarter worth about $220,000. Finally, Concorde Asset Management LLC purchased a new stake in shares of Lam Research in the third quarter worth about $242,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on LRCX shares. Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Mizuho upped their target price on Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Barclays lowered their target price on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Morgan Stanley upped their target price on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Finally, Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $98.22.

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the transaction, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.29% of the company’s stock.

Lam Research Price Performance

Shares of Lam Research stock opened at $79.01 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The business has a 50 day simple moving average of $79.30 and a two-hundred day simple moving average of $77.68. The stock has a market capitalization of $101.42 billion, a P/E ratio of 24.00, a PEG ratio of 1.47 and a beta of 1.53. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. As a group, analysts predict that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be given a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.16%. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.